Category: Analysis

Steel mill lead times increased for both sheet and plate products this week, according to responses from SMU’s latest market survey.

Sources in the domestic hot-rolled sheet market say they are standing by for an uptick in customer demand. These service center market participants, located in various regions of the US, expect to handle an influx of customer orders this month. 

The formation of the domestic scrap market for January shipments is underway and only partially settled as of this article's publication. The main point of contention is the price of #1 busheling and bundles.

Mill spot price negotiation rates have tumbled across all products SMU tracks, according to our latest survey data.

We are quickly approaching the one-month countdown to the 2026 Tampa Steel Conference. Let's look at Tampa 2025 to see what people were saying and how it applies to this year.

Steel sheet and plate prices rose across the board to start the year on limited spot availability at some mills, expectations of higher scrap prices, and hopes of stronger demand in 2026.

Australia's BlueScope Steel confirmed it has received a takeover bid from a two-party international consortium that includes Fort Wayne, Ind.-based Steel Dynamics Inc. (SDI).

Majestic Steel USA announced that Chad Broyles will now be the Executive Vice President for its business operations unit. The Cleveland-headquartered flat-rolled steel distributor and processor expects Broyles to help Majestic align its commercial and operational priorities. As EVP, Broyles will oversee service center operations, according to the company’s Jan. 5 statement. Todd Leebow, president and CEO of Majestic Steel USA, noted that since joining Majestic in 2025 Broyles’ has been a valuable contributor to its […]

There is disagreement over whether prices will increase meaningfully going into the new year. Prices did see a small increase in December, but several sources SMU has contacted have told us they are hearing price rises may be limited compared to past years.   

Oregon Steel Mills has joined other producers, announcing a price increase of at least $40 per short ton (st) for steel plate. The Portland, Ore.-based company told customers on Monday that the minimum increase was effective immediately with all new orders. It applies to all carbon, HSLA, hot-rolled coil, normalized, and quenched and tempered products, […]

Nucor kept its consumer spot price (CSP) for hot-rolled coil unchanged at $950 per short ton (st).

SSAB Americas aims to increase prices on all its products by at least $40 per short ton (st).

This is the final Final Thoughts of 2025. In fact, let's throw in the final Final Thoughts of the first half of the 2020s. End of year. Mid-decade. What does it all mean?

Demand for heavy steel plate used in offshore wind farms faces renewed uncertainty after President Trump paused leases for five offshore wind projects. 

The total amount of raw steel produced around the world slipped 3% from October to an estimated 140.1 million metric tons (mt) in November, according to World Steel Association (worldsteel) data. This marks the lowest monthly production rate since December 2023.

The US Department of Commerce has officially published the anti-dumping and countervailing duty orders on corrosion-resistant steel sheet imports, the final step in the trade case originally filed more than a year ago. At the same time, Commerce also revealed it is allowing some CORE imports into the country without paying the AD or CVDs.

The export market in the Atlantic Basin has seen significant strengthening during Q4 as 2025 comes to a close. The strength has been mainly driven by Turkish buyers, but Italy has also been a contributor. 

It's that time of year, when we look back at where we've been and forward to what the new year might bring. So, before we look forward to 2026, let’s take a quick look back at 2025.

Editor’s note This is an opinion column. The views in this article are those of an experienced trade attorney on issues of relevance to the steel market. They do not necessarily reflect those of SMU. We welcome you to share your thoughts as well at smu@crugroup.com. As we close out 2025, my best wishes to all […]

AISI's Kevin Dempsey looks back at 2025.

The price of pig iron looks to strengthen as producing nations cite rising ferrous scrap values.

We will examine the wisdom of hedging from the perspective of both the LME and Midwest premium, and whether you are approaching the market as a buyer or a seller.

An SMU Community Chat with Timna Tanners.

SMU’s Mill Order Index (MOI) declined in November after surging the month prior. The fall came as service center intake levels sharply declined, supported by a cut in shipments, according to our latest service center inventories data.

US Midwest sheet prices continued to rise alongside continued mill prices increases as lead times remained extended.

Rocky Mountain Steel Mills has begun hot commissioning a universal rail mill at its mini-mill in Pueblo, Colo.

A look at possible scenarios that could be announced during SMU's Tampa Steel Conference.

The price gap between stateside hot band and landed offshore product continues to narrow, inching closer toward parity. The premium is now, on average, at its lowest level since July.

Growth remains uneven, and capital continues to concentrate. But compared to the rest of the world (RoW), the US continues to have the most stable path forward.

Most buyers expect prices to rise slightly in the short term or remain flat. But many qualify this view as transitory or dependent on demand improvements.